Abstract: A method for routing orders for financial instruments among users is provided. A first order for one of a plurality of financial instruments is received from a first user, wherein the first order, which includes undisclosed liquidity, includes a first symbol component identifying the one of the plurality of financial instruments, a first side component identifying the order as one of a buy order or a sell order, a first price per unit component, and a first unit quantity. An intention to trade message is sent to each of a plurality of users and the intention to trade message includes information indicative of the first side, first symbol, first price per unit component, and first unit quantity. Information is received regarding one or more orders containing undisclosed liquidity which have been sent to a trade execution entity by one or more of the plurality of users. Based on said information, a responsive order is sent to the trade execution entity to hit or take the undisclosed liquidity.

Abstract: According to one exemplary embodiment of the present invention, a computerized method for routing orders relating to a commodity block trade is provided. The computerized method for routing orders relating to a commodity block trade includes a process for receiving a block trade for X amount of a commodity, and dividing the block trade into n equal orders. Pursuant to a feature of the present invention, each order is for an amount equal to 1/n times X, where n is a number of liquidity providers for the commodity. N liquidity providers are provided, and the n orders are distributed, one to each of the n liquidity providers. Moreover, information regarding the block order, including the amount X, is distributed to each of the n liquidity providers.

Abstract: According to one exemplary embodiment of the present invention, a computerized method for routing orders for foreign exchange transactions is provided. The computerized method for routing orders includes a process for receiving and aggregating updated foreign exchange price information from a plurality of foreign exchange electronic markets, and receiving and aggregating updated foreign exchange price information from a plurality of multi-bank foreign exchange portals. Pursuant to a feature of the present invention, the received and aggregated foreign exchange information is merged and sorted according to preselected criteria, to create a complete order book.

Abstract: A system and method for cross trading of financial instruments is provided. The system and method visually displays, on a display, a plurality of unexecuted orders for a given financial instrument. The unexecuted orders include a plurality of buy orders and a plurality of sell orders, and each order includes a price per unit component and a quantity component. The system automatically identifies cross trading opportunities between one or more of the buy orders and one or more of the sell orders, and visually displays, on the display, a graphical representation of the cross trading opportunities. This graphical representation illustrates the quantity available for cross trading at each price across a price per unit range. The system accepts, from a user, a selection of a price within the price per unit range, and accepts, from the user, an execution instruction.

Abstract: A securities trading consolidation system where each customer uses a single trader terminal to view, and analyze security market information from and to conduct security transactions with two or more ECNs, or other comparable ATSs, alone or in combination with one or more electronic exchanges. A consolidating computer system supplies the market information and processes the transactions. The consolidating computer system aggregates order book information from each participating ECN order book computer including security, order identification, and bid/ask prices information. Bid and ask prices for participating electronic exchanges may be integrated into the display. The combined information is displayed to a customer by security and by bids and offers, and then sorted by price, volume and other available attributes as desired by the customer.